The Recovery Loan Scheme (RLS) will be relaunched in August 2022 as the government aims to continue supporting recovering small businesses.
The RLS launched in April 2021 and was originally scheduled to run until 31 December 2021.
In the Autumn Budget 2021, the government extended the scheme by six months to 30 June 2022 and made some adjustments to its terms. The government provided a guarantee of 80% for loans made before 1 January 2022 and 70% for loans after that date. The borrower remains 100% liable for the debt.
The scheme will be open to smaller businesses with a turnover of up to £45 million.
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